Commercial Metals (NYSE:CMC) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in shares of Commercial Metals (NYSE:CMC) by 46.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 173,287 shares of the basic materials company’s stock after acquiring an additional 55,363 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.15% of Commercial Metals worth $8,671,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CMC. Fuller & Thaler Asset Management Inc. boosted its position in shares of Commercial Metals by 26.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock worth $123,834,000 after acquiring an additional 527,709 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Commercial Metals by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock worth $615,159,000 after acquiring an additional 487,792 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Commercial Metals by 32.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,385,435 shares of the basic materials company’s stock worth $68,454,000 after acquiring an additional 335,926 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Commercial Metals by 742.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 334,026 shares of the basic materials company’s stock worth $16,504,000 after acquiring an additional 294,383 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Commercial Metals during the 3rd quarter worth about $8,320,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMC. BMO Capital Markets upped their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. UBS Group started coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target for the company. Finally, StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the transaction, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at approximately $635,653.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Barbara Smith sold 60,166 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48. Following the sale, the chairman now directly owns 96,019 shares of the company’s stock, valued at approximately $4,923,854.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $51.52, for a total transaction of $30,912.00. Following the completion of the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,089 shares of company stock valued at $6,402,693. 1.00% of the stock is owned by company insiders.

Commercial Metals Stock Down 1.2 %

CMC stock opened at $54.45 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 9.45 and a beta of 1.33. The company has a fifty day moving average price of $55.47 and a 200 day moving average price of $50.23. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. Sell-side analysts expect that Commercial Metals will post 5.34 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were paid a $0.18 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s payout ratio is currently 12.50%.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.